AutoFill, a Dutch deep tech company specialising in inspection workflow processes for the automotive and rail industries, announced that it has secured €2.6M in pre-series A funding.
The investment round was led by Innovation Industries with participation from Deeptech Labs, an accelerator initiated by Arm and The University of Cambridge, among others.
Rick Belluzzo, former COO of Microsoft, and Bram Schot, former CEO of Audi, also participated in the round. They both joined Autofill’s advisory board earlier this year.
Schotsays, “I joined AutoFill’s Board of Advisors earlier this year because I was so impressed by the experience of the leadership team and the credibility of its solution. My subsequent investment in its future is testament to that continued confidence, and I look forward to witnessing the results of this successful funding round first-hand.”
The capital will enable AutoFill to advance its technical solution, strengthen its current operational deployments at partner sites, and grow its engineering team.
Speaking on the fundraise, AutoFill CEO and co-founder Gideon Richheimer says: “AutoFill’s technology removes the limitations presented by human involvement, significantly raising safety and accuracy standards, and making huge financial savings for the enterprise. We believe our solution will play an important role in accelerating a more efficient future initially for the automotive and rail industries and are extremely grateful to our investors for supporting us in this mission.”
Innovation Industries: What you need to know
Based out of Amsterdam, Innovation Industries is a venture capital firm that invests in high-tech, medtech, and agri-food tech companies in The Netherlands. The VC firm maintains a hands-on management style, sharing its experience, knowledge, and connections with the entrepreneurs.
Harm De Vries, co-founder, and general partner at Innovation Industries states, “AutoFill is a ‘new gen’ deep tech startup founded by a very experienced team. The offering is a market-validated, highly scalable solution. We are convinced that AutoFill will have a revolutionary impact on inspection workflow processes for numerous industries – potentially saving them billions of dollars a year.”
Founded by Gideon Richheimer, Luc Demarteau, Stefan Verhoeven, and Daan de Cloe, AutoFill is a deep tech data company building automated machine vision for fleets and rail.
The company has developed a solution that combines vision technology with multisensor data fusion to identify anomalies and increase the accuracy of quality standards.
While the existing automated solutions require substantial space and infrastructure to function, Autofill’s solution can be incorporated seamlessly into existing operational processes.
Headquartered in Wassenaar, AutoFill recently opened a second office in the High Tech Campus Eindhoven, considered to be the largest centre for technology innovation in Europe.